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F1 say it will drop races with "unattractive" deals from their calendar

16-11-2018 11:26
by Bobby Vincent
General
F1 say it will drop races with unattractive deals from their calendar

Formula One boss Chase Carey has revealed that the championship will drop races that have "unattractive" deals with F1, and they will be replaced by deals that are negotiated by the new management.

There's only one new race confirmed for 2020, in Vietnam. But Carey has insisted that there is huge interest from other potential hosts, and the calendar could extend up to 25 races in the future.

However, the Silverstone Grand Prix has seen its future thrown into major doubt, when the current deals signed by Bernie Ecclestone eventually run out.

Carey stressed the new owners are now working more closely with promoters to put on an entertaining show.

"The promotion end of our business has been viewed as more mature than other revenue streams in Formula One," Carey said to Autosport. "This perception was fulled by a lack of investment or freshness by the prior regime in our events.

"Quite simply our events became stale, which led promoters to focus on costs as opposed to growth. Events today are more valuable than ever, and we have a world-class premium event.

"We need to focus on maximising the value of our events, and communicating that to host locations. We're encouraged that the message is getting through to both existing and potential new host cities."

Carey also stressed that a huge demand for new races to join the calendar will ensure F1 can make better deals.

"We believe there is still potential growth, significant growth, in the promotion segment, during the next few years," Carey added. "The growth will be driven by three factors. First, we expect to expand our calendar beyond our current 21-race schedule.

"The expansion will be modest, but we have been excited by the number, quality and diversity of new locations interested in hosting a race. We are on the right side of the quality of races or fees. Every race needs to be great for fans, and be an attractive business proposition."

Read more about:Chase CareyFormula 1

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